Sicart Associates LLC Reduces Position in Sysco Co. (NYSE:SYY)

Sicart Associates LLC reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 113,120 shares of the company’s stock after selling 375 shares during the quarter. Sysco comprises approximately 3.1% of Sicart Associates LLC’s holdings, making the stock its 8th biggest position. Sicart Associates LLC’s holdings in Sysco were worth $8,830,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. TruNorth Capital Management LLC acquired a new stake in Sysco during the second quarter worth approximately $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. Fairscale Capital LLC acquired a new stake in Sysco during the 2nd quarter worth approximately $38,000. Canoe Financial LP bought a new stake in Sysco in the 3rd quarter valued at $38,000. Finally, LRI Investments LLC acquired a new position in Sysco in the 1st quarter valued at $45,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE SYY traded down $0.55 during midday trading on Tuesday, reaching $74.55. 2,792,261 shares of the company were exchanged, compared to its average volume of 3,147,108. The stock’s 50-day moving average price is $76.39 and its 200-day moving average price is $74.75. The stock has a market cap of $36.62 billion, a P/E ratio of 19.31, a PEG ratio of 1.93 and a beta of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SYY shares. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.